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S&P ups Siemens Gamesa to BBB
S&P said it raised its issuer credit rating on Siemens Gamesa Renewable Energy SA to BBB from BBB-.
The outlook is stable.
SGRE will be a core part of the Siemens Energy AG group.
On Sept. 25, S&P said it assigned a BBB issuer credit rating to Siemens Energy following the completion of its spinoff from Siemens AG (A+/negative/A-1+) and its listing on the Frankfurt Stock Exchange.
The BBB issuer credit rating on Siemens Gamesa is aligned with the long-term rating on Siemens Energy, its parent, “as we consider SGRE to be a core entity of the newly formed group,” S&P said in a news release.
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